Question 1 Not yet answered Marked out of 12.00 F Flag question Note: round your answers to 2 decimal places, unless stated otherwise. Ignore the 3; sign and commas in expressions like 10,000. Ruisi has always wanted to open a business in beauty consulting. Having just graduated from UNSW, she has decided that now is the time. Ruisi has decided to take out a loan of $200,000 today from Eastpac her favorite bank. The bank gave her 2 options: Option 1: a Loan term: 10 years 0 Equal monthly repayments where the first repayment will be made a month from today and the final repayment will be ten years from today I The interest charged is 8% pa, compounded monthly Option 2: a Loan term: 10 years I In the first two years, equal monthly repayments are made. The repayments for the first 2 years are interestonly. (Each interestonly repayment is chosen to be exactly equal to the interest accumulated in that period. So, at the end of two years, the outstanding amount will remain exactly the same as the original loan amount.) I For the remaining eight years, equal monthly repayments are made so that the loan is fully paid off at the end of the loan term. a The interest charged is 7% p.a., compounded monthly a) Calculate the size of each monthly repayment under option 1 [2 marks] D b) Calculate the loan outstanding amount after 4 years He after the 48th payment) under option 1. [2 marks] $ D c) Calculate the size of each monthly repayment during the first 2 years of interest-only, under option 2. [2 marks] 35 D d) Calculate the size of each monthly repayment after the 2year interestonly period expires, under option 2. [2 marks] $ D e) Calculate the loan outstanding amount after 4 years (i.e. after the 24th payment) under option 2. [2 marks]